Catapulted by the rise of designer toys, the “emotional economy” emerged as one of China’s hottest buzzwords in 2025, as millennials and Gen Z gravitated toward brands offering enjoyment, comfort, and self-expression. At the same time, thrift- and sustainability-minded consumers are driving a booming secondhand market, while the next generation of factory owners steps into leadership within their family businesses. Our cover stories explore how these young consumers and manufacturers are reshaping China’s market, and what lies ahead.
We travel far and wide for this issue: Our feature stories take us northeast to Harbin, where Ice-Snow World has grown into the world’s largest ice festival, and south to a historical Zhejiang village hosting China’s first translator residency program. We also visit Milan’s Chinatown to see how a new generation of Italian-Chinese entrepreneurs is reshaping the community, and head to Qingtian, Zhejiang—the hometown of much of Europe’s Chinese diaspora—to explore how those who left, stayed, and returned are transforming the small town.
Explore the modern appeal of all-female opera, a historic fantasy short story, AI in filmmaking, and the latest developments in micro-drama, in our cultural section and beyond. Enjoy reading!
New Markets, Young Makers: How Millennials and Gen Z Are Shaping the Future of Consumption is a story from our issue, “New Markets, Young Makers.” To read the entire issue, become a subscriber and receive the full magazine.
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